Answer:
The country most likely utilizes a free market economy.
Step-by-step explanation:
A free market economy is characterized by the price system: in this system, prices signal economic activity in order to coordinate the forces of supply and demand in order to reach a market equilibrium.
In a free market economy, competition is stiff because firms can freely enter and exit the markets, and this also influences the price of goods and services.
Firms try to out-compete other firms by improving production processes, innovating, and lowering costs.